The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1887-07-20
THE DANGER OF PERSONAL SECURITY
BONDS.
Persons Holding Trust Funds snoui"
be Required TO Get GOOD GUAR
antee Company to Stand for them.
Lancaster, RerieW.

Lancaster RerieW.
Instances are constantly occurring an ore.
the State, oil estates suffering through tne
future OF officers charged with their adininis ~
tratlon TO account fully for funds passing lntc
their hands. Clerks OF Courts, Sheriffs, Treas
urerS and Probate Judges sometimes go ou'
of office without turning over to tnelr sue
cessors moneys held by them belonging "
Sundry estates. ..,. M,
in one case out OF q dozen does 1t pay ~ orlng
suit on official bonds with the exception %
forcing sureties to make good the shortcon
ings OF their principals. =. ,ost
The wheels Of justice rerolve SLOWLY a. t.,' neot
and not unireouently are they clogged tenn
porarily by obstacles thrown In the way 95
defendants endcavoring to postpone or avolo
altogether responsibility for their NolunCa,s
acts, so that generally by the tlme Ju9siienu
of all their property in "the ordinary course
of business or otherwise while the suit on
the official bond was dragging lis SLOW iengtn
along. Besides, property naturally ana non.
estly changes hands oftener now tnan in
olden times, owing to some extent 10 Tue
speculative tendency of the present age; "A
man may be perfectly solvent lo-aaS Iho ~ A.
morrow bankrupt. How many oillcial oonus S
executed ten or even five years ago are soou
10. dav, even where there has been no direcl
effort made to escape liability thereon by any
of the bondSmcu. What assurance mas
man dying to. day leaving property 10 minor to
children tnat 1t will be SAFELY turned over "
them Oh gaining their majority: a,,, =,
ANY one at all familiar with the business ol
the courts knows what we state 10 oe true.
But is there no remcdy-is there no way .,
preventing estates from being S4uahdereu!
We think that there Is. . !,
Why would ii not 60 for the State 10 uI
away with such obligations as pcTsoilal
bonds" and require all public ofhcers 10 CIV
responsible guarantee companies as secuIilS
for the faithful performance Oh their Euties S
over the land by railroad corporations ana
express companies The Richmond and Dan
vile Syndicate. or the southern Express CON-.
pany for example, will not accept bona Win
personal security from any ol lhelr ase!its ", VI
EMPLOYEES who are bonded officers. but each
oneis required 10 get guarantee coitip;tns ~ ~
youch for him and become reSponslote iot al a.
moneys that pass into his hands. II tnesI
mammoth corporations, when are hlanaseu ~
strictly on business principles, Nhu SO niucn @
merit in the plan suggested, way Wou'u IL i,U' .'
be good idea 10 make State and county ON,
GERS. MS well as administrators, trustees ana
receivers, give similar security before enter
ing upon the discharge OF their respective Gu
ties itslc cad Of allowing them to get Il lew
friends" to endorse for them, whose solHehcy
Is OF uncertain duration.
The ntficerS themselves, if made Of the right
kind OF material, would no doubt prefer 70
pay u tritlins sum annually or Senl'ahhua'is
or quarterly, to some good guarantee colii'
many 10 stand FOR them rather IMAM aSN a,
friends to whom they would naturally ieel
Under obligations, to become reSponsipie ios
their official actions and doinSs.